Private equity tries to spoil Woolworths’ $13b liquor spin-off
Mar 03, 2021 46 secs
American investment giant The Carlyle Group and Australia’s BGH Capital are among firms trying to pinch Woolworths’ pubs, pokies and liquor spin-off and spoil what would otherwise be the year’s biggest capital markets transaction.

Street Talk can reveal Carlyle and BGH are two of three large private equity suitors preparing bids for Woolworths’ Endeavour Group, which is slated to be spun off to shareholders via an in-specie distribution in June.

The supermarkets giant wants to properly assess – and likely rule out – private equity interest, before forging ahead plans to spin Endeavour Group off to existing Woolworths investors.

A demerger would allow its existing investors to benefit from any future upside in the combined pubs, pokies and bottle shops business.

The slated demerger would see Woolworths and Mathieson each retain 14.6 per cent of an ASX-listed Endeavour Group, while the supermarkets’ giants existing investors would receive the other 70.8 per cent via an in-specie distribution.


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